Chart Scan – Jul 01, 2022

This chart shows potential, simply because last trading session it went up and over the 20MA (Green Dotted Line), which usually plays as a heavy resistnace point.

The other place I see some hope in this chart is that it has gone through a small Golden Cross and  small Death cross in a small amount of time. Now sitting at 6 months low support levels, we could see this one perform a full Golden Cross (When the 50AM Blue Line cross up and over the 200MA Red Line).

MACD is in a bullish formation, RSI is pointing up to a breakout and Acc/Dist is midlevel. Not the best set up, but has potential.

This one lost its support levels and spread the bollinger bands into a wide aray.

MACD is far under the zero line and trending up, RSI is right under the midway level, (pre breakout) and Acc/Dist is also in the middle.

By how all things look, a track back to the 20MA (Green Dotted Line) to test that resistance should be noted before the breakout starts, but again, as many other charts, waiting for that to happen might result in missing out on some gains.

The bounce has started on this, but it now faces the triple resistance points packed togehter, the 20MA (Green Dotted Line) The 50MA (Blue Solid Line) and the 200MA (Red Solid Line).

Acc/Dist sitting at low levels while the MACD and RSI are both in a bullish formation is telling me that this chart could move once these three levels of resistance are taken down.

I would call this one a text book bottom bounce formation.

Acc/Dist Very low levels
RSI – Trending up Pre Bullish
MACD – Far under zero line and also trending up.

Watch for resistance at the 20MA (Green Dotted Line) and a possible Golden Cross in the future.

Another wild one and one of my favorites in this batch.

RSI – Ready to cross up and over its breakout line.
MACD – Has been climbing up to the zero line while price has maintained its range.
Acc/Dist – Coming up to half way point from lows.

Price took a sharp dive last month setting up a bottom bounce formation, we get to witness the aftermath of a Black Cross (50MA Blue Line crosses under and below the 200MA Red Line).

Watch for bounce continuation, the 20MA is first level of resistance as always.

Very similar to the chart above, price fell hard, set up the bottom bounce, and now we have confirmation as this chart sets higher lows.

RSI just went over breakout line
MACD trending up in a bullish formation, still under zero line.
Acc/Dist is also moving up from a bottom formation.

Price is testing the 20MA (Green Dotted Line) right now and this is the key indicator for the breakout, once it gets over the 20MA, its next real challenge will be about 10% away.